Royal Bank Of Canada Lowers Ivanhoe Mines (TSE:IVN) Price Target to C$15.00

Ivanhoe Mines (TSE:IVN) had its price target reduced by investment analysts at Royal Bank Of Canada from C$24.00 to C$15.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 42.86% from the stock’s current price.

IVN has been the topic of a number of other research reports. Citigroup decreased their target price on shares of Ivanhoe Mines from C$20.00 to C$14.00 in a research report on Monday. Canaccord Genuity Group decreased their target price on shares of Ivanhoe Mines from C$24.00 to C$12.00 in a research report on Friday, June 13th. Scotiabank lowered shares of Ivanhoe Mines from a “strong-buy” rating to a “hold” rating and decreased their target price for the stock from C$16.00 to C$12.00 in a research report on Thursday, June 12th. UBS Group cut their price target on shares of Ivanhoe Mines from C$17.00 to C$15.00 in a report on Thursday, June 12th. Finally, BMO Capital Markets cut their price target on shares of Ivanhoe Mines from C$24.00 to C$21.00 in a report on Friday, June 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$16.80.

Ivanhoe Mines Stock Up 0.8%

Shares of IVN opened at C$10.50 on Tuesday. The firm’s 50-day simple moving average is C$12.30 and its 200 day simple moving average is C$14.65. Ivanhoe Mines has a 52 week low of C$8.76 and a 52 week high of C$20.95. The firm has a market cap of C$9.95 billion, a P/E ratio of 63.48 and a beta of 1.94. The company has a debt-to-equity ratio of 2.48, a quick ratio of 20.86 and a current ratio of 1.36.

About Ivanhoe Mines

Ivanhoe Mines Ltd. engages in the mining, development, and exploration of minerals and precious metals primarily in Africa. It explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium, and lead deposits. The company's projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located in Haut-Katanga Province, Democratic Republic of Congo; and the Kamoa-Kakula project located within the Central African Copperbelt.